Funding arb · Price arb /

NFLX

RWAall NFLX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0206%/8h= −22.5% APRpaid last 24h −0.073%

Price spread now: Phemex against Phoenix−0.007%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.466%−$47 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NFLX	73.955	0.0206	pay 0.0026% / 1h	38m 47s	$12K	$77K	10x
Short	Phemex NFLXUSDT	73.950	0	get 0.0000% / 8h	1h 38m	$1.4M	$343K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee PhemexbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$43.21
Price spread: −0.007% → 0.000%: −$0.68
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$62.89
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	0.68 bp	62.9 bp −$63	doesn't fit	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NFLX on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NFLXUSDT	0.0000%	8h	73.909	−0.062%	$11K	$5K	20x	as long as short
OKX NFLX-USDT-SWAP	0.0000%	8h	73.890	−0.088%	$878K	$835K	20x	as long as short
QFEX NFLX-USD	0.0000%	1h	73.870	−0.115%	$1.1M	$1.4M	10x	as long as short
Bitget NFLXUSDT	0.0000%	8h	73.960	+0.007%	$4.3M	$592K	50x	as long as short
SunX NFLX-USDT	0.0000%	8h	73.954	−0.001%	$2K	$4.6M	10x	as long as short
HTX NFLX-USDT	0.0000%	8h	73.906	−0.066%	$10K	$52K	20x	as long as short
Phemex NFLXUSDTshort	0.0000%	8h	73.950	−0.007%	$1.4M	$343K	10x
Vest NFLX-USD-PERP	+0.0046%	1h	73.880	−0.101%	—	$21K	25x	as long as short
Gate NFLX_USDT	+0.0046%	8h	73.990	+0.047%	$1.4M	$1.2M	25x	as long as short
Extended NFLX-USD	+0.0048%	1h	73.874	−0.109%	$12K	$19K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:NFLX	+0.0050%	1h	73.878	−0.104%	$5.0M	$3.0M	10x	as long as short
Ondo Perps NFLX-USD.P	+0.0050%	1h	73.830	−0.169%	$66K	$141K	10x	as long as short
KuCoin NFLXUSDTM	+0.0100%	8h	73.900	−0.074%	$152K	$38K	20x	as long as short
Aevo NFLX-PERP	+0.0104%	1h	73.949	−0.008%	$226	—	10x	as long as short
Variational Omni NFLX	+0.0114%	8h	73.952	−0.004%	$95K	$126K	—	as long as short
Binance NFLXUSDT	+0.0120%	8h	73.941	−0.019%	$5.4M	$5.6M	20x	as long as short
GRVT NFLX_USDT_Perp	+0.0181%	8h	73.947	−0.011%	$501	$139K	10x	as long as short
Phoenix NFLXlong	+0.0206%	1h	73.955	long leg	$12K	$77K	10x
Injective NFLX/USDC PERP	+0.0220%	1h	74.620	+0.899%	$83K	$109K	12x	as long as short
BloFin NFLX-USDT	+0.0241%	8h	73.950	−0.007%	$47K	$83K	20x	as long as short
Bybit NFLXUSDT	+0.0276%	8h	73.900	−0.074%	$1.3M	$872K	50x	as long as short